tag:blogger.com,1999:blog-75189942738263042102019-02-21T04:34:26.577-05:00The Strategic Default Monitor ®Strategies to Manage an Imminent or Current Mortgage Loan DefaultAugustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.comBlogger128125tag:blogger.com,1999:blog-7518994273826304210.post-11969414509794597622018-09-25T22:30:00.006-04:002018-09-26T23:59:39.622-04:00Latest Student Loan, Mortgage Loan and Foreclosure News - 9-26-2018
The
Growing Culture Of Student Loan Defaulters Fighting The System With Strategic
Default
Strategic default is simple: it's the intentional
act of going into default on your student loans. However, there's still a
misnomer here Joshua Cohen, a student
loan debt attorney, sums it up best: "First, when we say
strategic, that almost sounds like it’s purposeful. I think that’s incorrect.
Many of Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-24180813333188137102018-04-04T13:09:00.000-04:002018-04-04T13:15:22.188-04:00Can Reducing Court Delays and Narrowing Scope of Homeowner Protection Laws Contain the New York Foreclosure Epidemic? New York Judge Thomas F. Whelan in his article entitled, The Long Island Foreclosure Epidemic, projects a light on the causes of the extensive delays in New York foreclosure lawsuits. There is no question that a foreclosure lawsuit can take up to 8 to 10 years to finish.
Judge Whelan writes that state laws created to protect homeowners can be used as a weapon instead of a shield to delay Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-75242829369882864072018-01-31T10:43:00.000-05:002018-09-27T00:05:38.177-04:00How I Created a Brighter Financial Future for Myself, My Family, and My Business by Helping Home Owners Save Their Properties
Hello my name is Augustine Diji.
In 2010, I wrote the book Strategic Default: How to Create a Brighter Financial Future for You,Your Family or Your Business. Since then I have helped many people save
their homes or investment properties from foreclosure. With my assistance
homeowners obtained loan modifications. I devised strategies for “holding off” lenders
during foreclosure proceedings byAugustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-5619303115552273402018-01-08T13:15:00.003-05:002018-01-31T10:23:09.978-05:00Latest Mortgage & Real Estate News - 1-8-2018Homeowners are Sitting on Trillions in Cash
Following the housing crash, millions of borrowers fell underwater on their mortgages, owing more than their homes were worth. Fast-rising home prices over the last two years have brought borrowers above water and beyond. Approximately 80 percent of homeowners now have equity they can use, cash which could fuel the economy. Just 2.7 percent of Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-36168403463654357322017-12-23T12:36:00.001-05:002018-04-12T12:29:43.747-04:00Latest Mortgage & New York Foreclosure News - 12-23-2017The Federal Housing and Finance Agency Changing Credit Models To Expand Homeownership Opportunities
FHFA’s request for input is a step forward towards creating a marketplace where credit scoring models can be judged on their predictiveness, innovation and inclusivity instead of the status quo where the government has created a de-facto monopoly for FICO,” said Barrett Burns, VantageScore Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-16966640263999248742017-10-02T12:03:00.000-04:002018-01-31T10:48:26.685-05:00Latest Student Loan News - 10-2-2017
Half all Millennials would Give up Their Right to Vote to have Their Student Loans Forgiven
It's not news that millennials are in debt. 42.3 million Americans owe a total of $1.33 trillion in federal student loans, according to the U.S. Department of Education. 20-somethings pay on average $351 a month, reports the Federal Reserve. The median monthly payment for that age range is $203. Now a Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-81277150463157644722017-07-18T12:14:00.003-04:002018-01-31T10:25:58.245-05:00Latest Student Loan News - 7-18-2017
As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away
Tens of thousands of people who took out private loans to pay for college but have not been able to keep up payments may get their debts wiped away because critical paperwork is missing.
The troubled loans, which total at least $5 billion, are at the center of a protracted legal dispute between the student borrowers and a Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-69277176781535450792017-05-09T20:07:00.002-04:002018-01-31T10:27:45.979-05:00Latest New York Foreclosure News - 5-9-2017
Repeat foreclosures in New York City have reached an all-time high
New York homeowners are in default mode — again. The city leads the nation in repeat foreclosure filings and the winner in all this is the residential mortgage servicing industry, which collects monthly payments and cashes in on fees for every homeowner’s misfortune. The number of repeat foreclosure filings in New York City far Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-12481511546777183512016-11-01T13:58:00.001-04:002018-01-31T10:28:28.579-05:00Latest Foreclosure News 11-1-2016Freddie Mac Plans to Make Crisis-Era Foreclosure Prevention Permanent
Freddie Mac is working with it's regulator the Federal Housing Authority to "create permanent foreclosure-avoidance programs as" HAMP is set to expire this year, December 31, 2016 and HARP is set to expire on September 30, 2017. Read more at HousingWire.com.Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-42965629859769595952016-10-31T13:55:00.001-04:002018-01-31T10:29:05.748-05:00Boomerang Borrowers are Here!!Housing Wire reports on the rise of the "Boomerang Borrower". Essentially, a "Boomerang Borrower" is a borrower who has established "responsible credit behavior" and "improved" credit scores. These borrowers, once hit by the 2008 and 2009 financial crisis (foreclosure, short sales, etc.), are now experiencing the removal of negative credit data from their credit report due to the seven year limitAugustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-33952303166727474062016-09-29T11:51:00.000-04:002018-01-31T10:30:06.462-05:00New York Foreclosure Alert - 9-29-2016New York recently adopted sweeping legislation to reform the foreclosure process. New York's Governor, Andrew M. Cuomo, signed legislation into law that:1. Enhances the effectiveness of settlement conferences for homeowners by prescribing the rights and duties of the parties and clarifying how the process should work to best protect homeowners contesting foreclosures and prevent them from losing Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-53486118592568059532016-08-10T13:13:00.000-04:002016-08-22T10:43:34.043-04:00Latest Foreclosure News 8-22-2016More homeowners taking loan modifications, avoiding foreclosures 8-17-2016
The mortgage industry completed over 100,000 permanent modifications during the second quarter, according to HOPE NOW, the voluntary private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors. Of the 100,000 loan modifications, about 69,000 homeowners received proprietary loan Ade Molahttps://plus.google.com/107713972901506502053noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-5976559637166049362016-07-20T12:39:00.001-04:002016-07-20T12:39:54.674-04:00The Current Loan Modification TrendFor the past several months, loan modification activity have been evident to be in a decline according to data from sources such as the Hope Now alliance. Moreover, the vast majority of the modifications were made via proprietary programs, while a smaller portion were completed through the Home Affordable Mortgage Program. However, this drop does not necessarily always indicate bad news as Ade Molahttps://plus.google.com/107713972901506502053noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-76759368071156409782016-07-18T15:33:00.001-04:002016-07-18T15:33:17.296-04:00Weekly Alert: The Terror of Payday Loans
Introduction
What are payday loans? Simply put, a payday loan is a short-term loan (originally meant to be lend out for a few days or a couple of weeks) at a relatively high interest rate. However, they're often times targeted to low-waged individuals and are designed to tide them into a situation where they find themselves constantly unable to pay off the resulting interest amount.
ObjectiveAde Molahttps://plus.google.com/107713972901506502053noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-65978420798432574702016-05-26T11:54:00.000-04:002016-05-26T11:54:12.019-04:00NYS States Mortgage Assistance Program
NYS-MAP
The New York State Mortgage Assistance Program (NYS-MAP) provides home-saving loans to families who are at risk of foreclosure. By averting foreclosure, the program also protects surrounding property values and preserves neighborhood stability.
Program Overview
NYS-MAP is a foreclosure-prevention loan fund that helps homeowners who are unable to get assistance from other sources.
Ade Molahttps://plus.google.com/107713972901506502053noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-91661279487747279722016-05-03T12:02:00.000-04:002018-01-31T10:30:36.163-05:00Latest Foreclosure News 5-3-2016Ocwen responds to National Mortgage Settlement foreclosure holds 4-28-2016
Early Thursday morning, Joseph Smith, the monitor of the National Mortgage Settlement, announced that Ocwen Financial was not in compliance with one of the performance metrics of the National Mortgage Settlement and prohibited the nonbank from taking foreclosure actions on more than 17,000 loans. According to Smith’s Ade Molahttps://plus.google.com/107713972901506502053noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-909419846501051072016-04-08T00:21:00.000-04:002018-01-31T10:31:09.368-05:00Greece Economic Crisis : Pros and Cons of Debt Forgiveness
A recent Bloomberg article provided, in my opinion, the most succinct analysis of the pros and cons of debt forgiveness.
Bloomberg reported on the economic plight of Greece. Greece basically "strategically defaulted" on its debt due to it's inability to pay its creditors. Greece fell victim to Europe's debt crisis when Wall Street imploded in 2008. All of the risky investments finally caughtAugustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-29966241157266377392016-01-13T10:11:00.000-05:002018-01-31T10:31:45.140-05:00Strategic Default Alert2 factors driving the trend toward strategic defaults for student loans 1-13-2016
The term “strategic default” was added to the financial glossary during the housing crisis of 2007-08. It meant homeowners made deliberate decisions not to keep making mortgage payments because they believed foreclosure would ultimately cost less than continued ownership of underwater homes. Now, the trend is Ade Molahttps://plus.google.com/107713972901506502053noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-27179256997795597312015-12-10T09:52:00.000-05:002015-12-10T10:01:35.577-05:00How to Prevent Loan Modification Denial
Strategies to Prevent Loan Modification Denial:
As the borrower, you must be involved in the loan modification process at every stage of the process. The #1 reason for a loan modification denial is the lenders claiming that you did not send complete and accurate documentation in a timely fashion. You must keep detailed and organized records of all communications to and from the lender to Ade Molahttps://plus.google.com/107713972901506502053noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-46169975625799564122015-11-08T16:11:00.001-05:002015-11-08T16:13:18.933-05:00Using a Mind MapI began using mind mapping software in 1998. A mind map is a visual outline of my thoughts...of my ideas on any subject matter. The mind mapping software provides tools to help connect and to help organize my brainstorms. The underlying premise of mind mapping software is simple. It is a graphical outlining tool. A mind map project always begins with the main concept. The software allows me to Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-69591015223410768482015-09-17T12:54:00.000-04:002015-09-21T13:47:13.661-04:00Preparing for the Loan Modification Process
Steps to a Successful Loan Modification:
Determine your eligibility status before contacting your lender
You must have suffered a financial hardship that makes your current. mortgage payment at the current interest rate unaffordable.
You must have steady income (other than unemployment benefits) for at least 3 months.
Your income must be greater than your expenses (excluding your mortgage).
Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-1779968428452209132015-09-14T11:48:00.002-04:002015-09-14T11:50:10.635-04:00Debt Defense News AlertConsumers Will Get $60 Million in Refunds From Debt Collectors 9-12-2015
Two of the nation’s largest debt collectors must refund nearly $60 million to consumers and stop trying to collect on another $128 million in debts, after an action filed by federal regulators Wednesday. San Diego-based Encore Capital Group and Virginia-based Portfolio Recovery Associates are accused of pressuring consumers Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-81789318863024807542015-06-11T10:26:00.001-04:002015-06-11T10:34:17.498-04:00Student Debt UpdateRecent news on the student debt movement have brought light to the solutions commonly associated with mortgages and linked them as the potential solution to the growing issue of student debt. Aside from the utilization of the approach of strategic default, increased concern by the government has led to debt forgiveness initiatives targeted to students who had been misled by for-profit colleges Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-82789251362316749782015-05-27T00:35:00.000-04:002015-06-03T15:10:56.738-04:00Got Questions? Get Answers... MD Is Concerned About Her Family's Future And Is Considering Strategic Default
Got Questions?
To Whom it May Concern;
I came across the term 'strategic default' recently while researching the idea of letting my home go into foreclosure. I am not a homeowner struggling to pay my bills, I have excellent credit and not very much credit card debt. I was looking for a way to avoid bankruptcy if possible.
I purchased my home about 7 years ago. I was a single mom of 2 young Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-43748175766513875422015-04-21T10:08:00.000-04:002015-12-21T09:01:18.101-05:00Latest Foreclosure News 4-16-2015Freddie and Fannie to Lower Some Fees 4-15-2015
The federal regulator of Fannie Mae and Freddie Mac plans to lower the mortgage fees paid by some borrowers, but the move would amount to only modest help for risky buyers with checkered credit histories. The Federal Housing Finance Agency is expected to announce in coming days changes to fees that Fannie and Freddie charge lenders to guarantee Augustine Ademola Dijihttps://plus.google.com/100909721156882781609noreply@blogger.com0